New Enterprise Associates Pours $37.5 Million Into Appian for Custom Business Apps

New Enterprise Associates, which has seen two portfolio companies that offer applications and software deliver $1 billion investment returns in the past two years, is now getting behind a different kind of software company.

The firm said it has provided a $37.5 million Series B round for Reston, Va.-based Appian Corp., developer of a platform that enables enterprises to build their own custom applications.

About $35 million of the round will go toward repurchasing shares of common stock, mostly from company founders and individual investors, the company said.

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